On Wednesday, MoonPay agreed to acquire North Capital in an all-stock deal valued at over $60 million, expanding its presence in the infrastructure for regulated US securities and tokenized real-world asset (RWA) services.

Entry into issuance, custody, and secondary trading of private securities

The transaction will enable MoonPay to offer issuance, custody, and secondary trading of private securities, including their tokenized versions. According to MoonPay CEO Ivan Soto-Wright, the goal is to connect parts of the financial system through a "modern, programmable infrastructure."

North Capital: SEC registration and $8.7B in transaction volume

North Capital's business includes a broker-dealer, alternative trading system (ATS), transfer agent, and investment adviser — all registered with the SEC. The company has supported over $8.7 billion in primary and secondary transactions.

Deal status and post-closing structure

After closing, North Capital will become a subsidiary of MoonPay. The boards of directors of both companies have approved the deal; completion is subject to regulatory approvals and customary closing conditions.

MoonPay's series of acquisitions over the past year

The acquisition continues MoonPay's series of moves beyond crypto payments: it previously acquired key management provider Sodot, trading infrastructure platform DFlow, and AI-based financial operations platform Entendre to enhance its capabilities in institutional custody, on-chain trading, and financial operations. For context: North Capital raised $2.18 million in seed funding in October 2021; MoonPay is currently valued at $3.4 billion.